FX.co ★ EUR/USD analysis for June 13, 2022 - Strong downside momentum after the breakout

Technical analysis:

EUR/USD has been trading downside due to the breakout of the multi-day consolidation. Selling power and momentum are still strong so there is chance for furhter downside movement.

Trading recommendation:

Due to the breakout of the consolidation in the background and strong momentum to the downside I expect further downside movement.

Watch for selling opportunities on the rallies with the next main objective at 1.0355.

MACD is showing new momentum to the downside, which is another sign for further bearish market.

Key resistance i set at the price of 1.0760